AMEX (Middle East) B.S.C. (c), the Bahrain-based company that is SAIB's joint-venture partner in American Express Saudi Arabia, has agreed to acquire the 50% stake in American Express Saudi Arabia (C) JSC held by The Saudi Investment Bank for SAR 1.43 billion in cash plus certain deferred consideration. SAIB disclosed the agreement on the Saudi Exchange on 2 September 2026.
SAIB said it would announce any material developments, including completion, with the consideration payable in cash and the deferred component to be received after completion. The deferred component provides an additional layer of consideration representing SAIB's share of American Express Saudi Arabia's distributable profits from the transaction date until the share transfer completes, as set out in the parties' 2018 shareholders' agreement.
SAUDI INVESTMENT BANK EXITS AMEX JV
The Saudi Investment Bank, a Riyadh-listed lender trading under the ticker SASE:1030, is the seller of the 50% shareholding in American Express Saudi Arabia. SAIB said the proceeds will be used to support and strengthen its financial position, in line with its strategic direction.
The price was determined under the mechanism set out in the parties' shareholders' agreement dated 25 September 2018.
SAIB said the book value of its investment was SAR 637.7 million as of 30 November 2025 and that it expects to book a gain of about SAR 792 million on the sale.
AMEX TO TAKE FULL OWNERSHIP
On completion, the transaction would give AMEX (Middle East) full ownership of American Express Saudi Arabia. According to SAIB's disclosure, American Express Saudi Arabia reported net profit of SAR 151.97 million on revenue of SAR 644.29 million in 2025.
SAIB did not set out the conditions to completion. The parties have not disclosed a target completion date, and SAIB said the deferred consideration, determined under the 2018 shareholders' agreement, will be received after completion.